CORAL GABLES, FL / ACCESSWIRE / August 3, 2018 / The time is coming and in roughly two months, Canada is set to change the way marijuana is sold. No longer will there be the veil of secrecy or black-market sales. Following the passage of the Cannabis Act on June 19, Canada will become the first G7 country to legalize recreational marijuana. This, in turn, will also open the door to what could be the addition of $5 billion in added annual sales. This is in addition to what the industry is already generating. With this, Canada will be on a world stage as other industrialized countries watch and wait to see the resulting response to this move for legalization
As this industry ramps up, investors shift focus to the market for opportunity. Companies are getting involved in anything from technology to growing and everything in between in order to take advantage of the green rush ahead.
Companies like Leafbuyer Technologies (LBUY) are getting involved on a leading edge and targeting to growing retail demand for cannabis. Through its site, Leafbuyer.com the company showcases unique products and builds a network of loyal patrons. Leafbuyer's national network of cannabis deals and information reaches millions of consumers every month.
The company recently announced that it continues to see strong sales growth. That sales growth has increased by over 50% from Q4 2017 to Q4 2018. Furthermore, the company reported annual website traffic growth to Leafbuyer.com of 375% and traffic from California and Florida has increased by 740% and 800% year to year, respectively.
Cronos Group Inc. (NASDAQ: CRON; TSX: CRON) has been climbing in price since Thursday morning. The company has a host of holdings within the cannabis industry. Cronos Group owns 100% of Peace Naturals, a company licensed to produce and sell medical marijuana as well as cultivate cannabis oil, acting under the authority of a license issued by Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulation. Located in Simcoe County, Ontario, Peace Naturals has 95 acres of land.
Cronos Group also owns 100% of Original BC, a company that is currently licensed to cultivate and sell medical marijuana, acting under the authority of a license issued by Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulation. Original BC is located on 31 acres of land in Okanagan Valley, British Columbia.
Since Thursday's opening bell, shares of Cronos Group are up by as much as 5% with Friday morning highs of $6.08
iAnthus Capital Holdings, Inc. (ITHUF) (IAN.CN) operates, and partners with licensed cannabis operations throughout the United States. Roughly two weeks ago the company announced that its wholly-owned subsidiary, Citiva Medical, LLC, has begun construction on its 39,500 sq. ft. medical cannabis cultivation and processing facility, located at the former Mid-Orange State Correctional Facility in the Town of Warwick, New York.
Citiva is one of only ten New York State licensed medical cannabis Registered Organizations. The subsidiary received its license to operate one cultivation/processing facility and four dispensaries on August 1, 2017.
Shares of iAnthus have climbed 17% over the last 4 trading sessions.
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